No dividend
New Zealand Motor Bodies, Ltd, the Wellingtonbased motor body builder, is not recommending a dividend for the half-year to December 31, after being in the black for the second consecutive six-month period. The company earned an unaudited trading profit of $173,000, compared with a loss of $9OOO in the corresponding period of the previous year.
No provision for taxation has been required in either period. (Profit for the full year to June 30 was $264,000, including an extraordinary profit
of $180,000). The director said that trading had been slightly ahead of budget in the six months. “However, forecasts show the weak domestic demand continuing. Work for the final, six months to June 30 is expected to be in line with budget.”
Concentration on domestic market continued, but plant capacity in New Zealand remained well above any foreseeable demand. The directors said that they were endeavouring to maintain the improved liquidity and profitability of the company against this background.
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Press, 11 March 1983, Page 12
Word Count
160No dividend Press, 11 March 1983, Page 12
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